What now?

sacha28

mike864 said:

Sacha28,
That's the worst over and done with, concentrate on moving forward,enjoying your son, new job & husband. What makes me so angry is the way banks/creditors harangue and chase us for their money, they are nothing more than snakes in the grass who feed on our vulnerability, don't let them beat you down.
It is now five years since my B/O and believe me I feel for anyone in a similar position, stay strong, it was my attitude (arrogance) it's only money for God's sake, not life and death (this used to annoy my wife so much, she was angry at me!) and if I haven't got it guess what I cannot pay you, move on.
I have also seen instances whereby financial pressures have caused people to take their own lives, only two weeks ago I unfortunately attended a funeral of a friend who succumbed to this dreadful act, clearly desperate situations which no-one should ever have to face. Please put things in context and enjoy the start of a new beginning.
Best of luck
Mike 

Thank you Mike. I didn't even know I needed to hear this but realised I did as I read it 😊 

sacha28

So I've had an email from my case officer stating the OR "may" phone me. It has the letter to my bank attached which states that the balance, less any owed to them, should be returned to me (all 19p of it 😂 and I owe them nothing). Does this mean they have no interest in my account?
There's nothing definite in it, all mays and maybe's, so I feel a little confused. Can anyone shed some light as to what this means please?

mwarby

The OR has no interest in the account, what happens next is up to the bank, they could keep it open, or close it and send you a cheque for 19p

sacha28

mwarby said:

The OR has no interest in the account, what happens next is up to the bank, they could keep it open, or close it and send you a cheque for 19p

Ah ok, thank you. Halifax have already told me that they will close it, although they are yet to do so (or even freeze it).

sacha28

How long does it usually take for banks to freeze your account? Halifax still haven't done it. I don't know why it's bothering me so much if I'm honest, probably because it's that course of action will be my "closure" on the whole situation, if that makes sense? I keep logging in and hoping there's some big "banned" banner or something 😂

mwarby

They might not freeze it. Someone did say there was new staff training re bankruptcy coming, so it possible that your account will never be frozen or closed and it has in fact been reviewed already 

sacha28

mwarby said:

They might not freeze it. Someone did say there was new staff training re bankruptcy coming, so it possible that your account will never be frozen or closed and it has in fact been reviewed already 

That was me 😆 following a conversation I had in branch week before last, but she said it wouldn't apply to me as I filed before their new training came into force.
Maybe it won't then, I've opened a new account, in anticipation, with nationwide anyway and I think I'll just start using that one as I really want a fresh start.
Thank you for help so far

Minkym00

It's probably stating the obvious to say that not freezing an account would depend if there was any money in it. If the balance is £0 then it would be fine not to freeze it. If there is anything more than a few quid in then the bank would have to freeze it and wait for the OR to disclaim any interest in it.

sacha28

So a little update (sorry, I seem to be using this as a bit of a diary.)...
Had a call from the OR today who had a couple of questions, which of course I answered very honestly, about when I stopped paying some creditors and why. Actually felt good to say it out in the open, I've been quite private about it with people I know. The call only lasted 10 minutes....is that it? Or should I be expecting another call?
I also had an email stating there will be no IPA, due to my current financial circumstances.
I think they will let me keep my banger too, it's only worth £500 but is essential for getting my son to school and me to work (we live in the sticks, closest village is 3 miles away and public transport in Cornwall is notoriously terrible).
My Halifax account remains unfrozen too!

Does anyone have any idea when creditors get informed? I'm on an electric key meter and EDF, who were named on the BR, are still taking money off my credit. Should I phone them or wait?

mwarby

Sounds like good news. Re Halifax, it's gonna be difficult to tell if they haven't acted cos they haven't got paperwork or notification yet, or they haven't acted because they don't need to

I think the creditors are told pretty early on. I'd ring EDF if only so you know what the next steps are (I suspect you might get new keys\tokens, which will reset meter to £0 and no debt)